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Take the Zacks Approach to Beat the Markets: NVIDIA, Seagate, Amkor in Focus
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Last week, the S&P 500 and the Nasdaq Composite gained 0.2% and 1.3%, respectively. However, the Dow Jones Industrial Average declined 0.7% in the same period.
After witnessing a flat Consumer Price Index and an unexpected fall in Producer Price Index, Personal Consumption Expenditures which is the Federal Reserve’s preferred inflation gauge, edged lower to 2.6% yearly in May compared to 2.7% in April. Since the beginning of this year, it was the first time in May that PCE inflation remained unchanged monthly after rising 0.3% in April. This indicates inflation in the U.S. is slowly cooling off.
According to the report published by the Bureau of Economic Analysis on Friday, personal income grew 0.5% monthly in May after climbing 0.3% in April, while personal spending rose 0.2% after rising 0.1% in April.
Favorable macro economic data in May raised optimism amongst investors for an early interest rate cut by the Fed along with a much-desired soft landing for the economy.
Regardless of market conditions, we, here at Zacks, provide investors with unbiased guidance on how to beat the market.
As usual, Zacks Research guided investors over the past three months with its time-tested methodologies. Given the prevailing market uncertainty, you may want to look at our feats to prepare better for your next action.
Here are some of our key achievements:
Seagate Technology and Mueller Water Products Following Zacks Rank Upgrade
Shares of Seagate Technology Holdings plc (STX - Free Report) have gained 19.4% (versus the S&P 500’s 7.7% increase) since it was upgraded to a Zacks Rank #2 (Buy) on April 25.
Another stock, Mueller Water Products, Inc. (MWA - Free Report) , which was upgraded to a Zacks Rank #2 on April 18 has returned 17.2% (versus the S&P 500’s 8.8% increase) since then.
Zacks Rank, our short-term rating system, has earnings estimate revisions at its core. Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
A hypothetical portfolio of Zacks Rank #1 (Strong Buy) stocks has returned +6.1% in the year-to-date period through April 1, 2024, vs. +11.3% for the S&P 500 index and +7.7% for the equal-weight version of the S&P 500 index.
This hypothetical portfolio returned +20.63% in 2023 vs. +24.83% for the S&P 500 index and +15% for the equal-weight S&P 500 index.
The portfolio of Zacks Rank #1 stocks is an equal-weight portfolio, while the S&P 500 index is a market-cap-weighted index that has been notably distorted by the concentrated performance of mega-cap stocks since October 2022.
The Zacks Model Portfolio — consisting of Zacks Rank #1 stocks — has outperformed the S&P index by more than 16 percentage points since 1988 (Through April 1, 2024, the Zacks # 1 Rank stocks generated an annualized return of +27.6% since 1988 vs. +11.1% for the S&P 500 index).You can see the complete list of today’s Zacks Rank #1 stocks here >>>
Zacks Recommendation Upgrades Carter Bankshares and Amkor Technology
Shares of Carter Bankshares, Inc. (CARE - Free Report) and Amkor Technology, Inc. (AMKR - Free Report) have advanced 29.1% (versus the S&P 500’s 8.2% increase) and 27.5% (versus the S&P 500’s 6.8% rise), respectively, since their Zacks Recommendation was upgraded to Outperform on April 26 and April 30, respectively.
While the Zacks Rank is our short-term rating system that is most effective over the one- to three-month holding horizon, the Zacks Recommendation aims to predict performance over the next 6 to 12 months. However, just like the Zacks Rank, the foundation for the Zacks Recommendation is trends in earnings estimate revisions.
The Zacks Recommendation classifies stocks into three groups — Outperform, Neutral and Underperform. While these recommendations are determined quantitatively, our analysts have the flexibility to override them for the 1100+ stocks they closely follow based on their better judgment of factors such as valuation, industry conditions and management effectiveness than the quantitative model.
To access our research reports with Zacks Recommendations for the 1100+ stocks we cover, click here>>>
Zacks Focus List Stocks NVIDIA, Casey's General Stores Shoot Up
Shares of NVIDIA Corporation (NVDA - Free Report) , which belongs to the Zacks Focus List, have gained 40.4% over the past 12 weeks. The stock was added to the Focus List on May 20, 2019. Another Focus-List holding, Casey's General Stores, Inc. (CASY - Free Report) , which was added to the portfolio on August 20, 2019, has returned 20.5% over the past 12 weeks. The S&P 500 has advanced 4.9% over this period.
The Focus List portfolio returned +10.23% in 2024 Q1 vs. +10.56% for the S&P 500 index and +7.9% for the equal-weight S&P 500 index.
The 50-stock Zacks Focus List model portfolio returned +31.44% in 2023 vs. +26.28% for the S&P 500 index and +13.61% for the equal-weight S&P 500 index. In 2022, the portfolio produced -15.2% vs. the S&P 500 index’s -17.96%.
Since 2004, the Focus List portfolio has produced an annualized return of +11.91% (through March 31, 2024). This compares to a +10.25% annualized return for the S&P 500 index in the same time period.
Unlock all of our powerful research, tools and analysis, including the Focus List, Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. Gain full access now >>
Zacks ECAP Stocks Amgen & Novo Nordisk Make Significant Gains
Amgen Inc. (AMGN - Free Report) , a component of our Earnings Certain Admiral Portfolio (ECAP), has jumped 15.7% over the past 12 weeks. Novo Nordisk A/S (NVO - Free Report) has followed Amgen with 13.4% returns.
The Zacks Earnings Certain Admiral Portfolio (ECAP), which consists of 30 concentrated, ultra-defensive, long-term Buy and Hold stocks, has returned +9.08% in the year-to-date period (through March 31, 2024) vs. +10.42%.
In 2023, the portfolio returned +12.17% vs. +26.28% for the S&P 500 index. The portfolio returned -4.7% in 2022 vs. the S&P 500 index’s -17.96%.
With little to no turnover and annual rebalance periodicity, the ECAP seeks to minimize capital loss by holding shares of companies whose earnings streams exhibit a proven 20+ year track record of surviving recessionary periods with minimal impact on aggregate earnings growth relative to the overall S&P 500.
The ECAP and many other model portfolios are available as part of Zacks Advisor Tools, a cloud-based solution to access Zacks award-winning stock, mutual fund and ETF research. Click here to schedule a demo.
Zacks ECDP Stocks 3M Company and UnitedHealth Outperform Peers
3M Company (MMM - Free Report) , which is part of our Earnings Certain Dividend Portfolio (ECDP), has returned 12.3% over the past 12 weeks. Another ECDP stock, UnitedHealth Group Incorporated (UNH - Free Report) , has also climbed 11.7% over the same time frame. Of course, the inclination of investors toward quality dividend stocks to secure an income stream amid heightened market volatility contributed to this performance.
With an extremely low Beta and a history of minimum earnings variability over the last 20+ years, this 25-stock portfolio helps significantly mitigate risk.
The Zacks Earnings Certain Dividend Portfolio (ECDP) has returned +4.47% in the year-to-date period (through March 31, 2024) vs. +10.42% for the S&P 500 index (IVV) and +6.9% for the Dividend Aristocrats ETF (NOBL - Free Report) .
The portfolio returned -0.9% in 2023 vs. +26.28% for the S&P 500 index and +8.11% for NOBL. The portfolio returned -2.3% in 2022 vs. -17.96% for the S&P 500 index and -8.34% for NOBL.
Goldman Sachs Group, Inc. (GS - Free Report) , from the Zacks Top 10 Stocks for 2024, has jumped 17.3% year to date, which compares to the S&P 500 index’s +14.6% increase.
The Top 10 portfolio returned +19.56% in 2024 Q1 vs. +10.56% for the S&P 500 index and +7.9% for the equal-weight version of the index.
The Top 10 portfolio returned +25.15% in 2023 vs. +26.28% for the S&P 500 index. Since 2012, the Top 10 portfolio has produced a cumulative return of +1,060.9% through the end of 2023 vs. +360.1% for the S&P 500 index.
Since 2012, the Zacks Top 10 portfolio has produced an annualized return of +25.02% through the end of 2024 Q1 vs. +14.1% for the S&P 500 index and +12.7% for the equal-weight version of the index. The portfolio has produced a cumulative return of +1,442.3% vs. +403.03% for the S&P 500 index and +331.29% for the equal-weight index.
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Take the Zacks Approach to Beat the Markets: NVIDIA, Seagate, Amkor in Focus
Last week, the S&P 500 and the Nasdaq Composite gained 0.2% and 1.3%, respectively. However, the Dow Jones Industrial Average declined 0.7% in the same period.
After witnessing a flat Consumer Price Index and an unexpected fall in Producer Price Index, Personal Consumption Expenditures which is the Federal Reserve’s preferred inflation gauge, edged lower to 2.6% yearly in May compared to 2.7% in April. Since the beginning of this year, it was the first time in May that PCE inflation remained unchanged monthly after rising 0.3% in April. This indicates inflation in the U.S. is slowly cooling off.
According to the report published by the Bureau of Economic Analysis on Friday, personal income grew 0.5% monthly in May after climbing 0.3% in April, while personal spending rose 0.2% after rising 0.1% in April.
Favorable macro economic data in May raised optimism amongst investors for an early interest rate cut by the Fed along with a much-desired soft landing for the economy.
Regardless of market conditions, we, here at Zacks, provide investors with unbiased guidance on how to beat the market.
As usual, Zacks Research guided investors over the past three months with its time-tested methodologies. Given the prevailing market uncertainty, you may want to look at our feats to prepare better for your next action.
Here are some of our key achievements:
Seagate Technology and Mueller Water Products Following Zacks Rank Upgrade
Shares of Seagate Technology Holdings plc (STX - Free Report) have gained 19.4% (versus the S&P 500’s 7.7% increase) since it was upgraded to a Zacks Rank #2 (Buy) on April 25.
Another stock, Mueller Water Products, Inc. (MWA - Free Report) , which was upgraded to a Zacks Rank #2 on April 18 has returned 17.2% (versus the S&P 500’s 8.8% increase) since then.
Zacks Rank, our short-term rating system, has earnings estimate revisions at its core. Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
A hypothetical portfolio of Zacks Rank #1 (Strong Buy) stocks has returned +6.1% in the year-to-date period through April 1, 2024, vs. +11.3% for the S&P 500 index and +7.7% for the equal-weight version of the S&P 500 index.
This hypothetical portfolio returned +20.63% in 2023 vs. +24.83% for the S&P 500 index and +15% for the equal-weight S&P 500 index.
The portfolio of Zacks Rank #1 stocks is an equal-weight portfolio, while the S&P 500 index is a market-cap-weighted index that has been notably distorted by the concentrated performance of mega-cap stocks since October 2022.
The Zacks Model Portfolio — consisting of Zacks Rank #1 stocks — has outperformed the S&P index by more than 16 percentage points since 1988 (Through April 1, 2024, the Zacks # 1 Rank stocks generated an annualized return of +27.6% since 1988 vs. +11.1% for the S&P 500 index).You can see the complete list of today’s Zacks Rank #1 stocks here >>>
Check Seagate Techology’s historical EPS and Sales here>>>
Check Mueller Water Products’ historical EPS and Sales here>>>
Image Source: Zacks Investment Research
Zacks Recommendation Upgrades Carter Bankshares and Amkor Technology
Shares of Carter Bankshares, Inc. (CARE - Free Report) and Amkor Technology, Inc. (AMKR - Free Report) have advanced 29.1% (versus the S&P 500’s 8.2% increase) and 27.5% (versus the S&P 500’s 6.8% rise), respectively, since their Zacks Recommendation was upgraded to Outperform on April 26 and April 30, respectively.
While the Zacks Rank is our short-term rating system that is most effective over the one- to three-month holding horizon, the Zacks Recommendation aims to predict performance over the next 6 to 12 months. However, just like the Zacks Rank, the foundation for the Zacks Recommendation is trends in earnings estimate revisions.
The Zacks Recommendation classifies stocks into three groups — Outperform, Neutral and Underperform. While these recommendations are determined quantitatively, our analysts have the flexibility to override them for the 1100+ stocks they closely follow based on their better judgment of factors such as valuation, industry conditions and management effectiveness than the quantitative model.
To access our research reports with Zacks Recommendations for the 1100+ stocks we cover, click here>>>
Zacks Focus List Stocks NVIDIA, Casey's General Stores Shoot Up
Shares of NVIDIA Corporation (NVDA - Free Report) , which belongs to the Zacks Focus List, have gained 40.4% over the past 12 weeks. The stock was added to the Focus List on May 20, 2019. Another Focus-List holding, Casey's General Stores, Inc. (CASY - Free Report) , which was added to the portfolio on August 20, 2019, has returned 20.5% over the past 12 weeks. The S&P 500 has advanced 4.9% over this period.
The Focus List portfolio returned +10.23% in 2024 Q1 vs. +10.56% for the S&P 500 index and +7.9% for the equal-weight S&P 500 index.
The 50-stock Zacks Focus List model portfolio returned +31.44% in 2023 vs. +26.28% for the S&P 500 index and +13.61% for the equal-weight S&P 500 index. In 2022, the portfolio produced -15.2% vs. the S&P 500 index’s -17.96%.
Since 2004, the Focus List portfolio has produced an annualized return of +11.91% (through March 31, 2024). This compares to a +10.25% annualized return for the S&P 500 index in the same time period.
Unlock all of our powerful research, tools and analysis, including the Focus List, Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. Gain full access now >>
Zacks ECAP Stocks Amgen & Novo Nordisk Make Significant Gains
Amgen Inc. (AMGN - Free Report) , a component of our Earnings Certain Admiral Portfolio (ECAP), has jumped 15.7% over the past 12 weeks. Novo Nordisk A/S (NVO - Free Report) has followed Amgen with 13.4% returns.
The Zacks Earnings Certain Admiral Portfolio (ECAP), which consists of 30 concentrated, ultra-defensive, long-term Buy and Hold stocks, has returned +9.08% in the year-to-date period (through March 31, 2024) vs. +10.42%.
In 2023, the portfolio returned +12.17% vs. +26.28% for the S&P 500 index. The portfolio returned -4.7% in 2022 vs. the S&P 500 index’s -17.96%.
With little to no turnover and annual rebalance periodicity, the ECAP seeks to minimize capital loss by holding shares of companies whose earnings streams exhibit a proven 20+ year track record of surviving recessionary periods with minimal impact on aggregate earnings growth relative to the overall S&P 500.
The ECAP and many other model portfolios are available as part of Zacks Advisor Tools, a cloud-based solution to access Zacks award-winning stock, mutual fund and ETF research. Click here to schedule a demo.
Zacks ECDP Stocks 3M Company and UnitedHealth Outperform Peers
3M Company (MMM - Free Report) , which is part of our Earnings Certain Dividend Portfolio (ECDP), has returned 12.3% over the past 12 weeks. Another ECDP stock, UnitedHealth Group Incorporated (UNH - Free Report) , has also climbed 11.7% over the same time frame. Of course, the inclination of investors toward quality dividend stocks to secure an income stream amid heightened market volatility contributed to this performance.
Check 3M Company’s dividend history here>>>
Check UnitedHealth’s dividend history here>>>
With an extremely low Beta and a history of minimum earnings variability over the last 20+ years, this 25-stock portfolio helps significantly mitigate risk.
The Zacks Earnings Certain Dividend Portfolio (ECDP) has returned +4.47% in the year-to-date period (through March 31, 2024) vs. +10.42% for the S&P 500 index (IVV) and +6.9% for the Dividend Aristocrats ETF (NOBL - Free Report) .
The portfolio returned -0.9% in 2023 vs. +26.28% for the S&P 500 index and +8.11% for NOBL. The portfolio returned -2.3% in 2022 vs. -17.96% for the S&P 500 index and -8.34% for NOBL.
Click here to access this portfolio on Zacks Advisor Tools.
Zacks Top 10 Stocks — Goldman Sachs Market Delivers Solid Returns
Goldman Sachs Group, Inc. (GS - Free Report) , from the Zacks Top 10 Stocks for 2024, has jumped 17.3% year to date, which compares to the S&P 500 index’s +14.6% increase.
The Top 10 portfolio returned +19.56% in 2024 Q1 vs. +10.56% for the S&P 500 index and +7.9% for the equal-weight version of the index.
The Top 10 portfolio returned +25.15% in 2023 vs. +26.28% for the S&P 500 index. Since 2012, the Top 10 portfolio has produced a cumulative return of +1,060.9% through the end of 2023 vs. +360.1% for the S&P 500 index.
Since 2012, the Zacks Top 10 portfolio has produced an annualized return of +25.02% through the end of 2024 Q1 vs. +14.1% for the S&P 500 index and +12.7% for the equal-weight version of the index. The portfolio has produced a cumulative return of +1,442.3% vs. +403.03% for the S&P 500 index and +331.29% for the equal-weight index.